fraud

Michigan annuity producer sentenced

By Michael K. Stanley | May 30, 2013

A Williamsburg insurance agent was sentenced to serve 60 months in prison for defrauding elderly clients.

Cardiologist admits to $19 million conspiracy

By The Associated Press | April 11, 2013

Prosecutors say the doctor defrauded private health insurers as well as public health programs.

Life insurers fight hedge fund legislation

By Elizabeth D. Festa | February 21, 2013

The battle between life insurers and hedge funds on STOLI and premiums began this year in South Dakota.

CVS to pay $5M to settle drug pricing allegations

By The Associated Press | October 16, 2012

The case involves generic drug prices fed into a Medicare consumer shopping system.

California Passes Bill to Beef-Up Health Anti-Fraud Prosecution

By Elizabeth Festa | September 5, 2012

Assembly Bill 2138 would in some cases double the current annual assessment of 10 cents per insured.

Survey: Most Seniors Are Vulnerable to Investment Fraud and Exploitation

By Warren S. Hersch | August 17, 2012

About two-thirds of the experts surveyed deal with elderly victims of investment fraud/financial exploitation. Three out of four experts said that such swindles are a “very serious” problem in America today.

California Advances Bill to Beef Up Anti-Fraud Efforts

By Elizabeth Festa | May 31, 2012

Specifically, it would increase the current annual assessment of 10 cents per insured paid by health and disability insurers to up to 20 cents.

Va. Jury Convicts Costa Rican Man in $485M Fraud

By Larry O'Dell | May 1, 2012

A federal jury in Virginia convicted a former Costa Rican insurance executive on Monday of all counts in a $485 million fraud scheme in which he was accused of lying to clients and investors about the financial stability of his company.

Defendant Testifies in Life Insurance Fraud Case

By Larry O'Dell | April 27, 2012

A former Costa Rican insurance executive charged in a $670 million fraud scheme says he was unaware the firm's financial statements had been falsified.

California Agent Arrested on Charges of Financial Elder Abuse

By Warren S. Hersch | April 26, 2012

California Insurance Commissioner Dave Jones today announced the arrest of Frank J. Conlon, 73, charging the Los Angeles-based agent of two felony counts for allegedly defrauded seniors and embezzling premium funds in excess of $1 million.